Eurosceptic grandee John Redwood said: “It is one of the big social problems of our day that many people under the age of 35 are unable to afford their first home.”

He also praised Mr Hammond for his “realistically optimistic” tone on Brexit.

Iain Duncan Smith, the father of Universal Credit, said it was right to reduce the maximum waiting time for the benefit from six weeks to five.

He wrote in The Times: “The Chancellor has placed Universal Credit at the heart of his Budget and announced over £1billion of extra spending to assist in the roll out of this transformative system. This is a welcome commitment and a helpful one.”

Mr Hammond also won support from the pro-EU wing of the party for his efforts to fix Britain’s long-term economic problems.

Nicky Morgan, chair of the Treasury select committee, said: “The Chancellor appears to have produced a common-sense Budget, with measures to deal with long-standing problems in the housing market, to tackle tax avoidance and to prepare the economy for a post-Brexit future.”

Mr Hammond’s Budget avoided major new spending cuts or tax hikes - meaning that it will take years longer to clear the deficit in the public finances.

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But some Tories expressed relief that the Chancellor had not abandoned austerity altogether and gone on a borrowing binge in imitation of Jeremy Corbyn’s high-spending agenda.

Ex-Chancellor Ken Clarke said: “This Budget did not go in for ‘Corbyn-lite,’ and that’s what I had most feared - that he’d listen to some of the dafter voices.”

The PM and Mr Hammond put on a show of unity in the Commons following reports they had clashed over the Budget in the days before yesterday’s announcement.